Noon, Thursday October 9, 2014
Convention Level, Ramada Downtown Calgary 708 – 8 Ave SW, Calgary, AB
This month’s talk is sponsored by Fairmont Resources Inc.
Industrial Minerals discovery through to production cash flow
Michael Dehn – President, CEO & Director, Fairmont Resources Inc.
Fairmont Resources Inc. is a mineral exploration company focused on exploration and development in Canada. Fairmont currently holds a 100% interest in the Buttercup property and options to acquire a 40% interest in the Lac Elan Property and a 100% interest in the Hearth Property located in the Saguenay – Lac-Saint-Jean Region of Quebec. Fairmont also has 100% interest in the Houghton Creek Property, and an option to earn a 70% interest on the Clay-Powell property located in Northwestern Ontario. Fairmont strives to provide Health & Safety practices to safeguard our workers, work in a manner that minimizes our Environmental Impact, work in cooperation with the Local Communities in which we operate, respect Human Rights and Traditions, and carry on business in a Fair and Ethical Manner.
The Buttercup Property
In two places, stripping has shown that the south west ends of low lying ridges are composed of, medium grained titaniferous magnetite. These two occurrences lie close to the base line at 3N and 9N. At the latter locality the exposure measures about 150 feet by 170 feet. An outcrop of titaniferous magnetite was uncovered close to the base line some 15 feet east of an exposure of brecciated anorthosite. Other trenches and test pits were attempted in the area which only obtained bedrock in two locations near 18N 4 250tE and 15N + 500’E. In both cases, ore was encountered.
The deposits appear to lie along a major N.M. trending structure as indicated by a preliminary dip needle survey and brecciation in the surrounding anorthosite. A zone, one mile long and up to 1000 feet wide, has been roughly suggested within which dip needle readings are erratic and no outcrop of anorthosite has been found.
Description of the Ore
The titaniferous magnetite is a glistening black mineral on fresh surface weathering to ‘polished shoe’ black. In hand specimen obtained from the surface, the break is characteristically a rusty yellow colour, an occasional small crystal of a green mineral can be seen. The mineralization is often quite granular in appearance exhibiting well developed crystals. No apatite or sulphides were seen in any of the specimens examined.
Results of analyses carried out by the Quebec Department of Natural Resources on chip samples taken from three of the main exposures are tabulated as follows:
| Sample | Fe % | TiO2 % | SiO2 % | Al2O3% | MgO% | CaO % | P2O5% | S % | V2)5% |
| BM 30 | 51.14 | 19.51 | 0.61 | 6.38 | 3.44 | 0.14 | 0.01 | 0.002 | 0.65 |
| BM 31 | 51.14 | 19.19 | 0.57 | 6.72 | 3.2 | 0.14 | 0.01 | 0.012 | 0.64 |
| BM 32 | 50.75 | 20.1 | 0.69 | 6.53 | 2.87 | 0.17 | 0.01 | 0.002 | 0.67 |
| Average | 51 | 19.6 | 0.63 | 6.55 | 3.17 | 0.15 | 0.01 | 0.003 | 0.65 |
A Davis tube magnetic separation test of a composite sample powered to minus 200 mesh gave the following results:
| West Percentage | Fe % | TiO2 | |
| Magnetic Portion | 77.80% | 57.46% | 15.94% |
| Non Magnetic Portion | 22.10% | 27.15% | 32.06% |
This information combined with an examination of a polished section under high magnification by Mr. J. P. Giraud of the Quebec Department of Natural Resources indicates that the ore is an ulvospinel with a certain amount of intergrown ilmenite and very similar to La Blache mineralization.
PRESENTER’S BIOGRAPHY
Michael has over 21 years of experience in the mining industry. He has held the position of Senior Geologist, VP Corporate Development. President, CEO, and/or Director of publicly traded and private junior mining companies, with listings on the TSX, TSX-V, CSE, Frankfurt, Berlin, OTCBB and Pink Sheets. Michael has worked in diamond, base metals, precious metals, industrial minerals, oil and natural gas, as well as sand, gravel and peat deposits, primarily in the Americas on private, public company and government projects. His combination of technical and business skills have led to the development of new economical hydrometallurgical processes on historical geological deposits.
